Philosophy
Does it make sense to reframe the active vs. passive debate? Perhaps the question — active or passive? — is not the right one to ask.
Who are the greatest investors of all time?
Retirement, like life, is fundamentally uncertain. That's why we need to provide clients with more context about what missing their retirement-income goals might look like.
"Neither the Financial Analysts as a whole nor the investment funds as a whole can expect to ‘beat the market,’ because in a significant sense they (or you) are the market."
Market complexity transcends disciplines and cannot be entirely modeled out.
While traditional finance’s equity performance models still work, there is an alternative explanation for the long-running secular bull market.
So, do we human advisers and analysts stand any chance in the post-ChatGPT world?
With the PE model’s high profitability, the industry’s ultimate development stage will inevitably feature leveraged buyouts of the fund managers themselves,
What correlations should we trust? Those based on daily or monthly return data?
The current debt ceiling debate reveals a painful reality that the United States must confront.